Inside Story

Russia's global role

Will the US financial crisis enable Russia to improve its economic standing?

10 Jun 2008 07:19 GMT

Dmitry Medvedev delivers his speech at theInternational Economic Forum in St. Petersburg [AFP]

Delivering the most anti-American speech of his one-month presidency, Dmitry Medvedev, the Russian president, claimed that US selfishness had led the world into its worst financial crisis since the Great Depression.

The essence of his argument was that Russia sees the 2007-2008 world financial crisis, global energy shortages and rising food prices as a potential opportunity to change its position in the world financial and economic system comparatively quickly.

Inside Story asks if the US will allow Russia to become a major player on the international financial market?

Can Russia deliver on these promises, and is the world about to witness a split in the upcoming G8 summit next month?